Day: February 16, 2009

USD/KRW Approaches 2-Month High

The South Korean won declined to almost two-month low level against the U.S. dollar today as the global economic crisis worsened, prompting investors to sell the emerging markets’ assets. Since January 1st until today the Korean currency has fallen 11 percent versus the dollar, showing one of the worst results among the most-traded Asian currencies. The Japanese economy slid by 12.7 percent […]